Meet Pierre

Pierre Beniguel

Portfolio Manager

13 years investment experience

London

TwentyFour Asset Management LLP

8th Floor, The Monument Building, 11 Monument Street

EC3R 8AF London

United Kingdom

Pierre joined TwentyFour as a portfolio manager in the firm's Multi-Sector Bond team in April 2014.

Applying more than 12 years of fixed income experience, Pierre has a particular focus on European corporate bonds.

Before joining TwentyFour, Pierre worked in WestLB’s credit trading and special situations divisions. A graduate of University College London, he holds a degree in Mathematics & Economics.

Insights

TwentyFour Blog | Read | 2 min 4 Apr 2023

Negative credit migration calls for caution

Despite the recent volatility in the banking sector, corporate credit has remained strong. Pierre Beniguel looks at the interesting rating action which caught attention last week.

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24_2023-01-12_Blog_Teaser

TwentyFour Blog | Read | 1 min 12 Jan 2023

AroundTown: bad call (again)

After shocking investors in November by floating the idea of deferring its hybrid coupons, AroundTown has begun 2023 in similar fashion with a senior bond tender, says Pierre Beniguel.

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AroundTown: bad call

TwentyFour Blog | Read | 3 min 8 Dec 2022

AroundTown: bad call

In our latest blog, Pierre Beniguel looks at the implications of AroundTown’s corporate hybrid non-call and the shock announcement that it will also consider deferring coupon payments.

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why 85 is the new par in high yield size

TwentyFour Blog | Read | 3 min 28 Jul 2022

Why 85 is the new par in high yield

Pierre Beniguel explains why high yield issuers are selling new bonds at steep discounts to par value, and why this represents an opportunity to build potentially significant performance into fixed income portfolios going forward.

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Heimstaden and hybrids to call or not to call

TwentyFour Blog | Read | 6 min 12 Jul 2022

Heimstaden and hybrids: to call or not to call

With Heimstaden showing its commitment to corporate hybrids with a €600m tender offer, Pierre Beniguel looks at the complex decision issuers have to make and says more could follow suit with bonds trading at steep discounts.

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Will high yields stay high? Teaser

TwentyFour Blog | Read | 2 min 23 Jun 2022

Will high yields stay high?

For all of these observations, there is one common observation – yields did not stay at these high levels for very long.

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